NVO: Long NVO with a Price Target of $108 Per Share
$Novo-Nordisk A/S(NVO)$ still has a big gap between the price and performance.
Despite the rapid growth in recent years, the stock plummeted by 55% in the last twelve months because of the competitive pressures and disappointing trial data.
This is reversing.
It announced yesterday that its oral Wegovy delivered a 20% loss after 64 weeks of usage. This is way better than Lilly's oral offering, Orforglipron, which delivered 12.4% weight loss over 72 weeks.
On top of better performance, NVO will likely have some time-to-market advantage as it's planning to obtain FDA approval in the last quarter, while $Eli Lilly(LLY)$ only plans to apply for approval at the end of the year.
NVO is one of the most undervalued, high-quality stocks I currently see.
I am long NVO with a price target of $108 per share.
A chart displaying Novo Nordisk A/S (NVO) financial data. Blue bars show revenue in millions, pink bars show net income in millions, and an orange line tracks stock price over years from 2020 to 2024. Text labels include revenue and net income values, with a watermark reading "Powered by bigr."
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